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Xagusdlong

SILVER on a monthly resistance (M/W/D) 🦐SIlver on the monthly chart has approched a huge monthly resistance, price hit the 30 area and got sharply rejected below. On the weekly chart (low left) we can see that after the spike in the rejection bulls gain again power. On the daily chart (low right) price started a tight consolidation between the monthly resistance and a daily support. We can expect the price to carry on the consolidation range before a break for new recent highs. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
SAXO:XAGUSDLong
by InkyGrip
8
Silver on its way back up (cont.)Silver’s larger overall Elliot impulse wave started in mid-March, and I believe we just completed wave 4’s correction. This overall trend is noted by the blue Elliot impulse wave in the chart. I took a guess and put the end of this impulse at $33.54. It just seems like the support and resistance levels line up well here when considering the chart dating back to mid-March, and so does the 2.618 Fibonacci extension level of more recent patterns. This is purely a guess though, I have no way of knowing where wave 5 will end up. Within the overall pattern are smaller fractals of Elliot waves that I have labeled yellow for impulse waves and white for correction waves. I have June 15 as the date that the most recent 12345 Elliot impulse wave started and the Aug 6-7 peak as the top of wave 5. It looks like wave C of the correction just bottomed out, and the silver is climbing back upwards. This is between the 38.2% and 50% Fibonacci retracement levels of the overall chart (the blue line, dating back to mid-March). That means that right now is an excellent long-term time time to buy silver. I do expect silver to continue to be bullish. The effect of scarcity in markets cannot be overstated. We know that central banks are very good at creating fiat currency out of thin air. We know that alchemists have thus far been unsuccessful in creating precious metals out of thin air. When we speak of the price of silver (or any other commodity) in terms of fiat (usually the US dollar) we are comparing an element to a fiat currency that is being created out of thin air at an ever increasing rate. And, if we think of price as a function of the relative scarcity of one thing to another, it’s hard to imagine how the relative value of the elemental metal won’t increase. And what about demand? Silver is an essential part of solar panels and the electric circuitry of things like cell phones and other electronics. 5G? Electric cars? Solar powered homes? Smart homes? If you think those are going to be ever-increasing aspects of our daily lives, then you should have no doubt about silver’s outlook from a demand perspective. And so, I do think that silver will continue to remain bullish relative to fiat. I do believe that the current price will be looked back on as a low, and a great opportunity to buy. And, yes, I do believe we will soon enter another bullish Elliot impulse wave. You’ll look back and brag about how you bought silver back in August 2020.
SLong
by tarbh
Bullish Garley Pattern on Silver ?Just testing a potential harmonic pattern on Silver that may play out. This one is called A bullish Garley Pattern, where price forms an M you get your High followed by a lower High before a pullback and then price shoots up again. So if this trade were to play out following the Bullish M pattern we should see a price pullback to the 50 Fib level before the next run up. Also trying out the Gann fan to see if price follows the 1/1 level that it has been testing the whole way since the initial bullish pump we have seen.
OANDA:XAGUSDLong
by steevyp2820
Silver Run on Liquidity We saw a run on stops in February this year as silver raided stops into the liquidity pool below $12. The next raid happen this week as price broke above the $20 closing a short stops. The next liquidity pool we should see price run to is the liquidity pool above $36 catching swing traders out who have the stop above these equal highs. We should see a larger move higher above $50, as physical silver is very rare commodity that is used in industry and electrics. With the gold silver ratio needing to narrow further, and with economic stimulus by governments around the world running rampant, we will see higher prices in silver.
OANDA:XAGUSDLong
by TRADER-RI
2
SVL ASX - Silver trade of a lifetime Massive RR 64 xThis trade is something ive been building into over the last couple months to gain a leveraged position into Silver through my choice pick Silver producer. If you managed to catch my trade call on Silver yesterday, well done!!! make sure you bank those profits and don't hand them back! I'm very bullish on this stock due to the stocks positioning being outside of conflict zones or areas which are being impacted by Covid 19. This is coupled with the fact that the ore bodies have lots more primary Silver deposits in the ground at a time when i see lots of upside to Silver prices with no near sign of a drop in Silver prices. This stock also performed very well post GFC - actually fair to say one of the best silver miner stock performers i could find across all markets when looking at price over post GFC time frames. On the chart, I have mapped an aggressive buy and hold with a clear road map as to when ill be looking to move stops and secure the bag. Click FOLLOW on my profile and like comment the post to receive updates as I'll be updating this trade of a lifetime as it unfolds. As I write this have had a handful of positions I've profit locked a health distance away from today's pricing. I'm expected some healthy bullish price action today as the ASX opens after the strong Silver moves that have happened over NY time frame. Leave us a comment or like to keep me motivated to post more! Have a great week everyone! SMTP
ASX:SVLLong
by showmethepips
7
Why do we ignore Silver?Gold has always been attractive to forex traders and the last few weeks were no exception. Silver, on the other hand, usually does not get the attention it deserves. I would suggest that silver come on your watch list now, since gold is at/near all time highs. There is a lot of room to the upside in XAGUSD. I can see a nice setup developing on the H1. If you like my analysis, please give it a "thumbs up" and follow me to get immediate notification of my trade ideas. As always, please use sound money and risk management in all your trades.
OANDA:XAGUSDLong
by Trading_Vista